Issue - meetings

The Director of Corporate Resources explained that the Medium Term Financial Strategy required the movement of a surplus to an earmarked reserve, which Cabinet would agree in September 2017. The Council was currently forecasting a balanced budget from 2017/18 through to 2019/20.  This relied on implementing a range of actions to help deliver further income generation and efficiency measures. This required further investment in transformational projects. Moving £0.5m to the transformation earmarked reserve would set aside funds to help transform the Council in the future, effectively funded from the 2016/17 budget surplus.